S&P and Newbuilding Weekly 10 July 2026

Geopolitical tensions have escalated in the Strait of Hormuz, with recent attacks on commercial shipping by Iran prompting a halt in tanker transactions due to heightened uncertainty. This week saw no second-hand tanker sales as sellers maintain pricing expectations while buyers remain hesitant to engage. In the dry bulk sector, S&P activity has cooled yet asset values showed resilience, particularly in the Ultramax segment, where a modern Japanese-built vessel sold for USD 30.75 million. Despite the slowdown, the sector remains supported by strong fundamentals, coinciding with a backdrop of continued geopolitical strife that may influence future freight rates and newbuilding activity.